462 IBN18 (MAURITIUS) LIMITED. IBN18 (Mauritius) Limited

Size: px
Start display at page:

Download "462 IBN18 (MAURITIUS) LIMITED. IBN18 (Mauritius) Limited"

Transcription

1 462 IBN18 (MAURITIUS) LIMITED IBN18 (Mauritius) Limited

2 IBN18 (MAURITIUS) LIMITED 463 Independent Auditors Report Independent Auditors Report to the member of IBN18 (Mauritius) Limited Report on the Financial Statements We have audited the financial statements of ibn 18 (Mauritius) Limited from page 7 to 18 which comprise the statement of financial position at 31 March 2015, the statement of comprehensive income, changes in equity and cash flows for the year then ended and a summary of significant accounting policies and other explanatory notes. This report is made solely to the Company s member, as a body, in accordance with Section 205 of the Mauritius Companies Act. Our audit work has been undertaken so that we might state to the Company s member those matters that are required to state to them in an auditors report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company s member as a body, for our audit work, for this report, or for the opinions we have formed. Directors Responsibility for the Financial Statements The directors are responsible for the preparation and fair presentation of these financial statements in accordance with International Financial Reporting Standards and in compliance with the requirements of the Mauritius Companies Act and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the Company preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements give a true and fair view of the financial position of the Company at 31 March 2015 and of its financial performance and cash flows for the year then ended in accordance with International Financial Reporting Standards and comply with the Mauritius Companies Act. Report on Other Legal and Regulatory Requirements Mauritius Companies Act We have no relationship with or interests in the Company other than in our capacity as auditors. We have obtained all the information and explanations we have required. In our opinion proper accounting records have been kept by the Company as far as it appears from our examination of those records. ROY SERVANSINGH ASSOCIATES Licensed Auditors SIGNING PARTER SAMRAT C. SERVANSINGH (FCCA) Licensed by FRC Date : Date :

3 464 IBN18 (MAURITIUS) LIMITED Statement of Financial Position as at 31 March 2015 Notes 31 March March 2014 ASSETS Current assets Deposits, advances and prepayments 6 48,132,146 46,843,255 Cash and bank balances 7 35,567 79,480 48,167,713 46,922,735 Total assets 48,167,713 46,922,735 EQUITY AND LIABILITIES Equity Share capital Revenue deficit (8,132,599) (9,379,090) Total equity (8,132,499) (9,378,990) Non-current liabilities Debentures 9 56,249,900 56,249,900 Current liabilities Account payables 25,261 13,461 Taxation 10 25,051 38,364 Total liabilities 50,312 51,825 Total equity and liabilities 48,167,713 46,922,735 The financial statements were approved by the directors on... DIRECTOR NAME: DIRECTOR NAME: The accounting policies and the notes form an integral part of these financial statements

4 IBN18 (MAURITIUS) LIMITED 465 Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 March 2015 Note Year ended Year ended 31 March March 2014 INCOME Interest on deposits Interest on others 1,303,355 1,297,697 1,303,708 1,298,551 EXPENSES Audit fees 3,500 4,000 Legal and professional fees and other expenses 9,452 5,668 Financial charges 5,714 10,098 18,666 19,766 Profit for the year before taxation 1,285,042 1,278,785 Taxation 10 (38,551) (38,364) Profit for the year after taxation 1,246,491 1,240,421 Other comprehensive income - - Total comprehensive income for the year 1,246,491 1,240,421 The accounting policies and the notes form an integral part of these financial statements

5 466 IBN18 (MAURITIUS) LIMITED Statement of Changes in Equity for the year ended 31 March, 2015 Share Revenue Capital Deficit Total At 01 April (10,619,511) (10,619,411) Total comprehensive income for the year - 1,240,421 1,240,421 At 31 March (9,379,090) (9,378,990) At 01 April (9,379,090) (9,378,990) Total comprehensive income for the year - 1,246,491 1,246,491 At 31 March (8,132,599) (8,132,499) The accounting policies and the notes form an integral part of these financial statements

6 IBN18 (MAURITIUS) LIMITED 467 Statement of Cash Flows for the year ended 31 March 2015 Cash flow from operating activities Year ended Year ended 31 March March 2014 Profit for the year before taxation 1,285,042 1,278,785 Adjustments for: Change in account receivable (1,288,892) (1,292,666) Change in account payable 11,800 3,101 7,950 (10,780) Less: Tax paid (51,863) (33,926) Net cash used in operating activities (43,913) (44,706) Net decrease in cash and cash equivalents (43,913) (44,706) Cash and cash equivalents at beginning of the year 79, ,186 Cash and cash equivalents at end of the year 35,567 79,480 The accounting policies and the notes form an integral part of these financial statements

7 468 IBN18 (MAURITIUS) LIMITED Notes to and forming part of the Financial Statements for the year ended 31 March, GENERAL INFORMATION The Company was incorporated as a private limited company in the Republic of Mauritius on 19 February The principal activity of the Company is that of investment holding trading and providing consultancy services in the telecom and other fields. The Company was issued a Global Business Licence Category 1 on 27 September ACCOUNTING POLICIES The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all periods presented. Basis of preparation The financial statements have been prepared on the historical cost basis except for the measurement at fair values of the financial instruments carried on the statement of financial position. Trade receivables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for impairment of trade receivables is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. The preparation of financial statements in accordance with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Company s accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. There are no critical estimates or judgements made by the Company for the year ended 31 March Financial instruments Financial instruments carried on the statement of financial position include deposits, advances and prepayments, cash and bank balances, and accounts payables. The particular recognition methods adopted are disclosed in the individual policy statements associated with each item. Cash and cash equivalents Cash and cash equivalent includes cash in hand, deposit held at call with banks, other short term highly liquid investment with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowing in current liabilities on the statement of financial position. Share capital Ordinary shares are classified as equity. Trade receivables Trade receivables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for impairment of trade receivables is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. Payables Payables are recognised initially at fair value and subsequently stated at amortised cost. The difference between the proceeds and the amount payable is recognised over the period of the payable using the effective interest method. Functional and presentation currency The financial statements are presented in United States dollars ( ) which is the company s functional and presentation currency. The Company holds a Category 1 Global Business Licence under the Financial Services Act 2007, which requires that the company s business or other activity is carried on in a currency other than the Mauritian rupee. Derecognition of financial assets and liabilities Financial assets A financial asset (or, where applicable a part of a financial asset or part of a Group of similar financial assets) is derecognised when:

8 IBN18 (MAURITIUS) LIMITED 469 Notes to and forming part of the Financial Statements for the year ended 31 March, 2015 The rights to receive cash flows from the asset have expired; The Company retains the right to receive cash flows from the asset, but has assumed an obligation to pay them in full without material delay to a third party under a pass through arrangement; or The Company has transferred its rights to receive cash flows from the asset and either (a) has transferred substantially all the risks and rewards of the asset, or (b) has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset. When the Company has transferred its rights to receive cash flows from an asset and has neither transferred nor retained substantially all the risks and rewards of the asset nor transferred control of the asset, the asset is recognised to the extent of the Company s continuing involvement in the asset. Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Company could be required to repay. Financial liabilities A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability, and the difference in the respective carrying amounts is recognised in statement of profit or loss and other comprehensive income. Provisions Provisions are recognised when the Company has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate of the amount can be made. Income tax Income tax expense comprises current and deferred tax. Current tax and deferred tax are recognised in profit or loss except to the extent that it relates to a business combination, or items recognised directly in equity or in other comprehensive income. Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years. Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of period / year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the statement of profit or loss and other comprehensive income. Monetary assets and liabilities expressed in foreign currencies at year-end date are translated into at the exchange rates ruling at the reporting date. Translation differences on non-monetary financial assets and liabilities, such as equities at fair value through profit or loss are recognised in the income statement within the fair value net gain or loss. Translation differences on non-monetary items, such as equities, classified as available-for-sale financial assets are included in the fair value reserve in equity. Revenue recognition Interest income is recognised on a time-proportionate basis using the effective interest method and includes interest income from debt securities. Related parties Related parties are individuals and companies where the individual or company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions.

9 470 IBN18 (MAURITIUS) LIMITED Notes to and forming part of the Financial Statements for the year ended 31 March, CHANGES IN ACCOUNTING POLICIES AND DISCLOSURES The following standards have been adopted by the Company for the first time for the financial year beginning on or after 1 January Standards Description IAS 39 Financial Instruments: Recognition and Introduces a narrow-scope exception to the requirement for the Measurement discontinuation of hedge accounting in IAS 39 by allowing hedge accounting to continue in a situation in which a derivative that has been designated as a hedging instrument is novated from one counterparty to a central counterparty, as a consequence of new laws or regulations, if specific conditions are met. IAS 36 Impairment of Assets Clarifies the scope of certain disclosures about the recoverable amount of impaired assets. IAS 32 Financial Instruments: Presentation Addresses inconsistencies in current practice when applying the offsetting criteria in IAS 32. IFRS 10 Consolidated Financial Statements, IFRS 12 Defines an investment entity and introduces an exception to Disclosure of Interests in Other entities and IAS 27 consolidating particular subsidiaries for investment entities Separate Financial Statements The adoption of these amendments to the standards have not had had any impact on these financial statements 4. STANDARDS ISSUED BUT NOT YET EFFECTIVE The new standards and amendments to standards and interpretations are effective for annual periods beginning after 01 January 2014, and have not been applied in preparing these financial statements. Standards Description Effective date for accounting periods beginning on or after IAS 19 Defined Benefit Plans: Introduces a narrow-scope amendment to simplify the July 1, 2014 Employee Contributions * accounting for contributions that are independent of the number of years of employee service eg, employee contributions that are calculated according to a fixed percentage of salary. Annual Improvements ( Cycle) IFRS 2 Share-based payment IFRS 3 Business Combinations IFRS 8 Operating Segments IAS 16 Property, Plant and Equipment IAS 24 Related Party This publication is expected to set out minor July 1, 2014 Disclosures amendments. IAS 38 Intangible Assets Annual Improvements ( Cycle) IFRS 3 Business Combinations IFRS 13 Fair Value Measurement IAS 40 Investment Property

10 IBN18 (MAURITIUS) LIMITED 471 Notes to and forming part of the Financial Statements for the year ended 31 March, 2015 Standards Description Effective date for accounting periods beginning on or after IFRS7 Financial Instruments: Amendments resulting from September 2014 Annual January 1, 2015 Disclosures Improvements to IFRSs IFRS 10 Consolidated Financial Sale or Contribution of Assets between an Investor and January 1, 2016 Statements; its Associate or Joint Venture IAS 28 Investments in Associates and Joint Ventures (Amended in 2011) IFRS 11 Joint Arrangements Accounting for Acquisitions of Interests in Joint Operations. IFRS 14 Regulatory Deferral Accounts (New in 2014) The objective of IFRS 14 is to specify the financial reporting requirements for regulatory deferral account balances that arise when an entity provides good or services to customers at a price or rate that is subject to rate regulation. Clarification of Acceptable Methods of Depreciation and Amortisation IAS 16 Property, Plant and Equipment and IAS 38 Intangible Assets re: IAS 16 Property, Plant and Agriculture: Bearer Plants Equipment and In accordance with specific requirements in IAS 16 IAS 41 Agriculture and IAS 41 IAS 27 Separate Financial Equity Method in Separate Financial Statements Statements (Amended in 2011) IFRS 9 Financial Instruments Hedge Accounting To be determined IFRS7 Financial Instruments: Hedge Accounting; Disclosures Simultaneously with IFRS 9, in accordance with specific requirements in IFRS 7 and IAS 39 IAS 39 Financial Instruments: Recognition and measurement There are no other standards and IFRIC interpretations that are not yet effective that would be expected to have a material impact on the Company. 5. CRITICAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY. Critical accounting judgments in applying the Company s accounting policies In the process of applying the Company s accounting policies, which are described in Note 2, the directors have made the following judgements that have the most significant effect on the amounts recognised in the financial statements:- Determination of functional currency The determination of the functional currency of the Company is critical since recording of transactions and exchange differences arising there from are dependent on the functional currency selected. As described in Note 2, the directors have considered those factors described therein and have determined that the functional currency of the Company is the United States Dollar ( ).

11 472 IBN18 (MAURITIUS) LIMITED Notes to and forming part of the Financial Statements for the year ended 31 March, DEPOSITS, ADVANCES AND PREPAYMENTS 31 March March 2014 Prepaid expenses 7,217 1,590 Loans to fellow subsidiaries 48,124,901 46,841,546 Interest accured but not due ,132,146 46,843, CASH AND BANK BALANCES 31 March March 2014 Balance in current Account 18,860 8,217 Balance in deposit Account 16,707 71,263 35,567 79, SHARE CAPITAL 31 March March 2014 Issued, subscribed and paid up Equity shares of 1.00 each fully paid DEBENTURES 31 March Issued, subscribed and paid up Optionally convertible debentures 56,249,900 56,249,900 56,249,900 56,249, TAXATION The Company, being the holder of a Category 1 Global Business Licence, is subject to income tax in Mauritius at the rate of 15 %. However, it is entitled to a credit equivalent to the higher of the actual foreign tax suffered and 80 % of the Mauritian tax on its foreign source income, thus reducing its maximum effective tax rate to 3%. A provision for tax of 38,551 ( : 38,364) has been made in the financial statements with regards to profit which arose as from the date the Company was converted to a Category 1 Business Licence Company. 31 March March 2014 Charge for the year 38,551 38,364 Less APS (13,500) - 25,051 38,364 Tax reconciliation: A reconciliation of the income tax expense based on accounting profit and actual income tax expense is as follows: 31 March March 2014 Profit before taxation 1,285,042 1,278,785 Profit charge to income tax 1,285,042 1,278,785 Income tax at 15% 192, ,818 Foreign tax (credit)/ allowances of 80% (154,205) (153,454) Deferred tax not recognised ,551 38,364

12 IBN18 (MAURITIUS) LIMITED 473 Notes to and forming part of the Financial Statements for the year ended 31 March, PARENT COMPANY ibn18 (Mauritius) Limited is a wholly owned subsidiary of TV18 Broadcast Limited, a public company incorporated under the laws of India and listed on the Bombay Stock Exchange and the National Stock Exchange of India. 12. RETIREMENT BENEFITS During the year there was no employee on the payroll of the Company entitled to retirement benefits. 13. RELATED PARTY DISCLOSURES Relationship TV18 Broadcast Limited Parent Company BK Holdings Ltd (Merge with Network 18 Holding Ltd. with effect from 6th June 2014) Fellow subsidiary Television 18 Media & Investment Ltd. Fellow subsidiary Network18 Holding Ltd. Fellow subsidiary RELATED PARTY TRANSACTIONS (i) BK Holdings Ltd. 31 March March 2014 a) TRANSACTIONS Balance Transferred to BK Holding on amalgamation (26,253,849) 752,816 b) BALANCE RECEIVABLE - 26,253,849 (ii) Television 18 Media & Investment Ltd. a) TRANSACTIONS Interest on ICD 550, ,881 b) BALANCE RECEIVABLE 21,138,236 20,587,698 (iii) TV 18 Broadcast Limited a) Interest on Debenture 4,300 9,796 b) BALANCE PAYABLE 56,263,996 56,259,696 (iv) Network 18 Holding Limited Balance Transferred from BK Holding on amalgamation 26,253,849 - a) Interest on ICD 732,816 - b) BALANCE RECEIVABLE 26,986, FAIR VALUE The carrying amount of deposits, advances and prepayments, cash and bank balances and account payables approximate their fair values. 15. FINANCIAL SUMMARY 31 March March 2014 Opening balance (9,379,090) (10,619,511) Profit for the year 1,246,491 1,240,421 Loss carried forward (8,132,599) (9,379,090) 16. GOING CONCERN The financial statements have been prepared on a going concern basis which assumes that the Company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the continued support of the shareholder. The directors are of the opinion that this support will be forthcoming over the next twelve months. They therefore believe that it is appropriate for the financial statements to be prepared on a going concern basis.

Auditors report to the shareholder of Sun Pharma Holdings (previously known as Nogad Holdings)

Auditors report to the shareholder of Sun Pharma Holdings (previously known as Nogad Holdings) Auditors report to the shareholder of Sun Pharma Holdings (previously known as Nogad Holdings) Report on the Financial Statements We have audited the financial statements of Sun Pharma Holdings, which

More information

BELLE TERRE REALTY LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED

BELLE TERRE REALTY LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2011 1 FINANCIAL STATEMENTS CONTENTS PAGES COMPANY INFORMATION 2 COMMENTARY OF DIRECTORS 3 CERTIFICATE FROM THE SECRETARY 4 INDEPENDENT AUDITOR S REPORT

More information

The statements are presented in pounds sterling and have been prepared under IFRS using the historical cost convention.

The statements are presented in pounds sterling and have been prepared under IFRS using the historical cost convention. Note 1 to the financial information Basis of accounting ITE Group Plc is a UK listed company and together with its subsidiary operations is hereafter referred to as the Company. The Company is required

More information

RELIANCE INDUSTRIES (MIDDLE EAST) DMCC 1. Reliance Industries (Middle East) DMCC Reports and Financial Statements for the year ended 31 December 2014

RELIANCE INDUSTRIES (MIDDLE EAST) DMCC 1. Reliance Industries (Middle East) DMCC Reports and Financial Statements for the year ended 31 December 2014 RELIANCE INDUSTRIES (MIDDLE EAST) DMCC 1 Reliance Industries (Middle East) DMCC Reports and Financial Statements for the year ended 31 December 2014 2 RELIANCE INDUSTRIES (MIDDLE EAST) DMCC Independent

More information

TCS Financial Solutions Australia (Holdings) Pty Limited. ABN 61 003 653 549 Financial Statements for the year ended 31 March 2015

TCS Financial Solutions Australia (Holdings) Pty Limited. ABN 61 003 653 549 Financial Statements for the year ended 31 March 2015 TCS Financial Solutions Australia (Holdings) Pty Limited ABN 61 003 653 549 Financial Statements for the year ended 31 March 2015 Contents Page Directors' report 3 Statement of profit or loss and other

More information

DUBLIN CORE METADATA INITIATIVE LIMITED (Co. Reg. No. 200823602C) (Incorporated in the Republic of Singapore)

DUBLIN CORE METADATA INITIATIVE LIMITED (Co. Reg. No. 200823602C) (Incorporated in the Republic of Singapore) (Incorporated in the Republic of Singapore) AUDITED FINANCIAL STATEMENTS AND OTHER FINANCIAL INFORMATION FOR THE PERIOD FROM 23 DECEMBER 2008 (DATE OF INCORPORATION) TO 30 JUNE 2009 LAM/KCH DIRECTORS REPORT

More information

SIGNIFICANT GROUP ACCOUNTING POLICIES

SIGNIFICANT GROUP ACCOUNTING POLICIES SIGNIFICANT GROUP ACCOUNTING POLICIES Basis of consolidation Subsidiaries Subsidiaries are all entities over which the Group has the sole right to exercise control over the operations and govern the financial

More information

Shin Kong Investment Trust Co., Ltd. Financial Statements for the Years Ended December 31, 2014 and 2013 and Independent Auditors Report

Shin Kong Investment Trust Co., Ltd. Financial Statements for the Years Ended December 31, 2014 and 2013 and Independent Auditors Report Shin Kong Investment Trust Co., Ltd. Financial Statements for the Years Ended, 2014 and 2013 and Independent Auditors Report INDEPENDENT AUDITORS REPORT The Board of Directors and stockholder Shin Kong

More information

Report and Non-Statutory Accounts

Report and Non-Statutory Accounts Report and Non-Statutory Accounts 31 December Registered No CR - 117363 Cayman Islands Registered office: PO Box 309 GT, Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands Report

More information

Summary of Significant Accounting Policies FOR THE FINANCIAL YEAR ENDED 31 MARCH 2014

Summary of Significant Accounting Policies FOR THE FINANCIAL YEAR ENDED 31 MARCH 2014 46 Unless otherwise stated, the following accounting policies have been applied consistently in dealing with items which are considered material in relation to the financial statements. The Company and

More information

136 ST ENGINEERING / ABOVE & BEYOND

136 ST ENGINEERING / ABOVE & BEYOND 136 ST ENGINEERING / ABOVE & BEYOND Independent auditors report Members of the Company Singapore Technologies Engineering Ltd Report on the financial STATEMENTS We have audited the accompanying financial

More information

CROSSWORD CYBERSECURITY PLC

CROSSWORD CYBERSECURITY PLC Registered number: 08927013 CROSSWORD CYBERSECURITY PLC AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2014 COMPANY INFORMATION DIRECTORS T Ilube J Bottomley Professor D Secher

More information

Grenville Strategic Royalty Corp (formally Troon Ventures Ltd.) Consolidated Financial Statements For the Year Ended December 31, 2014

Grenville Strategic Royalty Corp (formally Troon Ventures Ltd.) Consolidated Financial Statements For the Year Ended December 31, 2014 Grenville Strategic Royalty Corp (formally Troon Ventures Ltd.) Consolidated Financial Statements For the Year Ended Contents Independent Auditors Report... 2 Consolidated Statements of Financial Position...

More information

EXPLANATORY NOTES. 1. Summary of accounting policies

EXPLANATORY NOTES. 1. Summary of accounting policies 1. Summary of accounting policies Reporting Entity Taranaki Regional Council is a regional local authority governed by the Local Government Act 2002. The Taranaki Regional Council group (TRC) consists

More information

IFRS Illustrative Consolidated Financial Statements 2014

IFRS Illustrative Consolidated Financial Statements 2014 IFRS Illustrative Consolidated Financial Statements 2014 1 PKF International Limited administers a network of legally independent member firms which carry on separate businesses under the PKF Name. PKF

More information

G8 Education Limited ABN: 95 123 828 553. Accounting Policies

G8 Education Limited ABN: 95 123 828 553. Accounting Policies G8 Education Limited ABN: 95 123 828 553 Accounting Policies Table of Contents Note 1: Summary of significant accounting policies... 3 (a) Basis of preparation... 3 (b) Principles of consolidation... 3

More information

Acal plc. Accounting policies March 2006

Acal plc. Accounting policies March 2006 Acal plc Accounting policies March 2006 Basis of preparation The consolidated financial statements of Acal plc and all its subsidiaries have been prepared in accordance with International Financial Reporting

More information

International Financial Reporting Standard 7 Financial Instruments: Disclosures

International Financial Reporting Standard 7 Financial Instruments: Disclosures EC staff consolidated version as of 21 June 2012, EN EU IFRS 7 FOR INFORMATION PURPOSES ONLY International Financial Reporting Standard 7 Financial Instruments: Disclosures Objective 1 The objective of

More information

CSCBANK S.A.L. (FORMERLY CREDITCARD SERVICES COMPANY S.A.L.)

CSCBANK S.A.L. (FORMERLY CREDITCARD SERVICES COMPANY S.A.L.) CSCBANK S.A.L. (FORMERLY CREDITCARD SERVICES COMPANY S.A.L.) CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS REPORT YEAR ENDED DECEMBER 31, 2010 CSCBANK S.A.L. (FORMERLY CREDITCARD SERVICES

More information

NOTES TO THE ANNUAL FINANCIAL STATEMENTSNOTE

NOTES TO THE ANNUAL FINANCIAL STATEMENTSNOTE NOTES TO THE ANNUAL FINANCIAL STATEMENTSNOTE Notes to the ANNUAL FINANCIAL STATEMENTS 19 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The principal accounting policies adopted in the preparation of these

More information

SAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS. Year ended December 31, 2011

SAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS. Year ended December 31, 2011 SAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS Year ended SAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS For the year ended The information contained in

More information

STATEMENT BY THE BOARD

STATEMENT BY THE BOARD Financial Statements 1 FINANCIAL STATEMENTS STATEMENT BY THE BOARD In our opinion, (a) the accompanying consolidated financial statements of Info-communications Development Authority of Singapore (the

More information

MATRIX IT LTD. AND ITS SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS

MATRIX IT LTD. AND ITS SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2013 CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2013 NIS IN THOUSANDS INDEX Page Auditors' Reports 2-4 Consolidated Statements of Financial

More information

Roche Capital Market Ltd Financial Statements 2009

Roche Capital Market Ltd Financial Statements 2009 R Roche Capital Market Ltd Financial Statements 2009 1 Roche Capital Market Ltd, Financial Statements Reference numbers indicate corresponding Notes to the Financial Statements. Roche Capital Market Ltd,

More information

Transition to International Financial Reporting Standards

Transition to International Financial Reporting Standards Transition to International Financial Reporting Standards Topps Tiles Plc In accordance with IFRS 1, First-time adoption of International Financial Reporting Standards ( IFRS ), Topps Tiles Plc, ( Topps

More information

Note 2 SIGNIFICANT ACCOUNTING

Note 2 SIGNIFICANT ACCOUNTING Note 2 SIGNIFICANT ACCOUNTING POLICIES BASIS FOR THE PREPARATION OF THE FINANCIAL STATEMENTS The consolidated financial statements have been prepared in accordance with International Financial Reporting

More information

ACCOUNTING POLICY 1.1 FINANCIAL REPORTING. Policy Statement. Definitions. Area covered. This Policy is University-wide.

ACCOUNTING POLICY 1.1 FINANCIAL REPORTING. Policy Statement. Definitions. Area covered. This Policy is University-wide. POLICY Area covered ACCOUNTING POLICY This Policy is University-wide Approval date 5 May 2016 Policy Statement Intent Scope Effective date 5 May 2016 Next review date 5 May 2019 To establish decisions,

More information

Volex Group plc. Transition to International Financial Reporting Standards Supporting document for 2 October 2005 Interim Statement. 1.

Volex Group plc. Transition to International Financial Reporting Standards Supporting document for 2 October 2005 Interim Statement. 1. Volex Group plc Transition to International Financial Reporting Standards Supporting document for 2 October 2005 Interim Statement 1. Introduction The consolidated financial statements of Volex Group plc

More information

ACCOUNTING POLICIES. for the year ended 30 June 2014

ACCOUNTING POLICIES. for the year ended 30 June 2014 ACCOUNTING POLICIES REPORTING ENTITIES City Lodge Hotels Limited (the company) is a company domiciled in South Africa. The group financial statements of the company as at and comprise the company and its

More information

Türkiye İş Bankası A.Ş. Separate Financial Statements As at and for the Year Ended 31 December 2015

Türkiye İş Bankası A.Ş. Separate Financial Statements As at and for the Year Ended 31 December 2015 Türkiye İş Bankası A.Ş. Separate Financial Statements As at and for the Year Ended 2015 29 April 2016 This report includes 93 pages of separate financial statements together with their explanatory notes.

More information

SAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS. Year ended December 31, 2012

SAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS. Year ended December 31, 2012 SAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS Year ended SAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS For the year ended The information contained in

More information

Roche Capital Market Ltd Financial Statements 2014

Roche Capital Market Ltd Financial Statements 2014 Roche Capital Market Ltd Financial Statements 2014 1 Roche Capital Market Ltd - Financial Statements 2014 Roche Capital Market Ltd, Financial Statements Roche Capital Market Ltd, statement of comprehensive

More information

VASSETI (UK) PLC CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2013

VASSETI (UK) PLC CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2013 CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2013 INTERIM MANAGEMENT REPORT (UNAUDITED) FOR THE 6 MONTHS ENDED 30 JUNE 2013 1. Key Risks and uncertainties Risks and uncertainties

More information

Significant Accounting Policies

Significant Accounting Policies Apart from the accounting policies presented within the corresponding notes to the financial statements, other significant accounting policies are set out below. These policies have been consistently applied

More information

Consolidated financial statements

Consolidated financial statements Rexam Annual Report 83 Consolidated financial statements Consolidated financial statements: Independent auditors report to the members of Rexam PLC 84 Consolidated income statement 87 Consolidated statement

More information

ANNUAL FINANCIAL RESULTS FOR THE YEAR ENDED 31 JULY 2014 FONTERRA ANNUAL FINANCIAL RESULTS 2014 A

ANNUAL FINANCIAL RESULTS FOR THE YEAR ENDED 31 JULY 2014 FONTERRA ANNUAL FINANCIAL RESULTS 2014 A ANNUAL FINANCIAL RESULTS FOR THE YEAR ENDED 31 JULY 2014 FONTERRA ANNUAL FINANCIAL RESULTS 2014 A CONTENTS DIRECTORS STATEMENT 1 INCOME STATEMENT 2 STATEMENT OF COMPREHENSIVE INCOME 3 STATEMENT OF FINANCIAL

More information

Guardian General Insurance Jamaica Limited Financial Statements For the Year Ended 31 December 2015

Guardian General Insurance Jamaica Limited Financial Statements For the Year Ended 31 December 2015 Guardian General Insurance Jamaica Limited Financial Statements For the Year Ended 31 December 2015 (Expressed in Jamaican dollars unless otherwise indicated) Index Page Independent Auditor s Report 1-2

More information

RBTT Asset Management Limited

RBTT Asset Management Limited RBTT Asset Management Limited 31 October 2010 Financial Statements Chairman s report The financial year ending 31 October, 2010 marks the first completed reporting period of RBTT Asset Management Limited.

More information

ILLUSTRATIVE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2013 International Financial Reporting Standards

ILLUSTRATIVE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2013 International Financial Reporting Standards ILLUSTRATIVE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2013 International Financial Reporting Standards 2 A Layout (International) Group Ltd Annual report and financial statements For the year ended

More information

MICROFINANCE ORGANIZATION B.I.G. LLC. Financial Statements. Together with the Independent Auditors Report. Year ended 31 December 2013

MICROFINANCE ORGANIZATION B.I.G. LLC. Financial Statements. Together with the Independent Auditors Report. Year ended 31 December 2013 MICROFINANCE ORGANIZATION B.I.G. LLC Financial Statements Together with the Independent Auditors Report Year ended 31 December 2013 FINANCIAL STATEMENTS CONTENTS: INDEPENDENT AUDITORS REPORT... 3 STATEMENT

More information

Consolidated financial statements

Consolidated financial statements Summary of significant accounting policies Basis of preparation DSM s consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted

More information

Expressed in Canadian Dollars - Unaudited

Expressed in Canadian Dollars - Unaudited Hatch Interactive Technologies Corp. (Formerly Tosca Resources Corp.) Consolidated Interim Financial Report For the three and nine month periods ended August 31, 2015 Expressed in Canadian Dollars - Unaudited

More information

International Financial Reporting Standard 7. Financial Instruments: Disclosures

International Financial Reporting Standard 7. Financial Instruments: Disclosures International Financial Reporting Standard 7 Financial Instruments: Disclosures INTERNATIONAL FINANCIAL REPORTING STANDARD AUGUST 2005 International Financial Reporting Standard 7 Financial Instruments:

More information

What science can do. AstraZeneca Annual Report and Form 20-F Information 2014

What science can do. AstraZeneca Annual Report and Form 20-F Information 2014 What science can do Financial Statements Group Accounting Policies Basis of accounting and preparation of financial information The Consolidated Financial Statements have been prepared under the historical

More information

Joint Stock Company Belgazprombank Consolidated Financial Statements. Year ended 31 December 2006 Together with Independent Auditors Report

Joint Stock Company Belgazprombank Consolidated Financial Statements. Year ended 31 December 2006 Together with Independent Auditors Report Joint Stock Company Belgazprombank Consolidated Financial Statements Year ended 31 December 2006 Together with Independent Auditors Report 2006 Consolidated Financial Statements CONTENTS INDEPENDENT AUDITORS

More information

ALTICE FINANCING S.A.

ALTICE FINANCING S.A. Financial statements as at and for the year ended December 31, 2013 and report of the Réviseur d'entreprises Agréé 3, boulevard Royal L - 2449 LUXEMBOURG R.C.S. Luxembourg: B171.162 Issued capital: EUR

More information

FINANCIAL STATEMENTS. BNZ Cash PIE and BNZ Term PIE

FINANCIAL STATEMENTS. BNZ Cash PIE and BNZ Term PIE FINANCIAL STATEMENTS BNZ Cash PIE and BNZ Term PIE Financial Statements for the year ended Directory The Manager BNZ Investment Services Limited Level 4 80 Queen Street Auckland 1010 Private Bag 92208

More information

Preliminary Final report

Preliminary Final report Appendix 4E Rule 4.3A Preliminary Final report AMCOR LIMITED ABN 62 000 017 372 1. Details of the reporting period and the previous corresponding period Reporting Period: Year Ended Previous Corresponding

More information

Illustrative financial statements

Illustrative financial statements IFRS Illustrative financial statements October 2012 kpmg.com/ifrs 1 Contents What s new 2 About this publication 3 Independent auditors report on consolidated financial statements 5 Consolidated financial

More information

RANBAXY EGYPT COMPANY (L.L.C.) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2015 TOGETHER WITH AUDITOR S REPORT

RANBAXY EGYPT COMPANY (L.L.C.) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2015 TOGETHER WITH AUDITOR S REPORT FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2015 TOGETHER WITH AUDITOR S REPORT Translation of Auditor s report AUDITOR S REPORT TO THE SHAREHOLDERS OF Report on the Financial Statements We have audited

More information

KOREAN AIR LINES CO., LTD. AND SUBSIDIARIES. Consolidated Financial Statements

KOREAN AIR LINES CO., LTD. AND SUBSIDIARIES. Consolidated Financial Statements Consolidated Financial Statements December 31, 2015 (With Independent Auditors Report Thereon) Contents Page Independent Auditors Report 1 Consolidated Statements of Financial Position 3 Consolidated Statements

More information

HOLLY SPRINGS INVESTMENTS LIMITED HALF YEAR REPORT FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2008 CONTENTS STATEMENT OF FINANCIAL PERFORMANCE 1

HOLLY SPRINGS INVESTMENTS LIMITED HALF YEAR REPORT FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2008 CONTENTS STATEMENT OF FINANCIAL PERFORMANCE 1 HALF YEAR REPORT FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2008 CONTENTS PAGES STATEMENT OF FINANCIAL PERFORMANCE 1 STATEMENT OF MOVEMENTS IN EQUITY 2 STATEMENT OF FINANCIAL POSITION 4-4 STATEMENT OF CASH

More information

ANNUAL FINANCIAL RESULTS

ANNUAL FINANCIAL RESULTS ANNUAL FINANCIAL RESULTS For the year ended 31 July 2013 ANNUAL FINANCIAL RESULTS 2013 FONTERRA CO-OPERATIVE GROUP LIMITED Contents: DIRECTORS STATEMENT... 1 INCOME STATEMENT... 2 STATEMENT OF COMPREHENSIVE

More information

Abbey plc ( Abbey or the Company ) Interim Statement for the six months ended 31 October 2007

Abbey plc ( Abbey or the Company ) Interim Statement for the six months ended 31 October 2007 Abbey plc ( Abbey or the Company ) Interim Statement for the six months ended 31 October 2007 The Board of Abbey plc reports a profit before taxation of 18.20m which compares with a profit of 22.57m for

More information

CLOSED JOINT-STOCK COMPANY Eurobank. Financial Statements For the Year Ended 31 December 2009

CLOSED JOINT-STOCK COMPANY Eurobank. Financial Statements For the Year Ended 31 December 2009 CLOSED JOINT-STOCK COMPANY Eurobank Financial Statements For the Year Ended CLOSED JOINT-STOCK COMPANY EUROBANK TABLE OF CONTENTS Page STATEMENT OF MANAGEMENT S RESPONSIBILITIES FOR THE PREPARATION AND

More information

CONTENTS. Directory 36

CONTENTS. Directory 36 ANNUAL REPORT 2012 CONTENTS chairman s report 2 corporate governance 4 directors responsibility statement 6 independent auditors report 7 statements of comprehensive income 9 statements of changes in equity

More information

Financial statements: contents

Financial statements: contents Section 5 Financial statements 115 Financial statements: contents Consolidated financial statements Independent auditors report to the members of Pearson plc 116 Consolidated income statement 123 Consolidated

More information

FUBON LIFE INSURANCE CO., LTD. AND SUBSIDIARIES. CONSOLIDATED INTERIM FINANCIAL STATEMENTS June 30, 2014 and 2013

FUBON LIFE INSURANCE CO., LTD. AND SUBSIDIARIES. CONSOLIDATED INTERIM FINANCIAL STATEMENTS June 30, 2014 and 2013 CONSOLIDATED INTERIM FINANCIAL STATEMENTS 2014 and (with Independent Accountants Report Thereon) Address: 14F, No. 108, Sec. 1, Tun Hua S. Road, Taipei, Taiwan Telephone: 886-2-8771-6699 - 1 - 2014 and

More information

NOTES TO THE FINANCIAL STATEMENTS

NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS 1 SIGNIFICANT ACCOUNTING POLICIES (a) Statement of compliance These financial statements have been prepared in accordance with all applicable Hong Kong Financial Reporting

More information

Open Joint Stock Company HALOPOLYMER. Consolidated Financial Statements for the Year Ended 31 December 2011

Open Joint Stock Company HALOPOLYMER. Consolidated Financial Statements for the Year Ended 31 December 2011 Open Joint Stock Company HALOPOLYMER Consolidated Financial Statements for the Year Ended TABLE OF CONTENTS Page STATEMENT OF MANAGEMENT S RESPONSIBILITIES FOR THE PREPARATION AND APPROVAL OF THE CONSOLIDATED

More information

The consolidated financial statements of

The consolidated financial statements of Our 2014 financial statements The consolidated financial statements of plc and its subsidiaries (the Group) for the year ended 31 December 2014 have been prepared in accordance with International Financial

More information

Samsung Life Insurance Co., Ltd. Separate Financial Statements March 31, 2013 and 2012

Samsung Life Insurance Co., Ltd. Separate Financial Statements March 31, 2013 and 2012 Separate Financial Statements Index Page(s) Report of Independent Auditors 1-2 Separate Financial Statements Statements of Financial Position 3 Statements of Comprehensive Income 4 5 Statements of Changes

More information

financial statements 175 Independent Auditors report

financial statements 175 Independent Auditors report TUI Travel PLC Annual Report & Accounts Strategic REPORT Business and financial review Shareholder information 103 103 GROUP financial statements 104 Independent Auditors report (Group) 107 Consolidated

More information

International Financial Reporting Standard 3 Business Combinations

International Financial Reporting Standard 3 Business Combinations International Financial Reporting Standard 3 Business Combinations Objective 1 The objective of this IFRS is to improve the relevance, reliability and comparability of the information that a reporting

More information

TEO LT, AB FINANCIAL STATEMENTS, CONSOLIDATED ANNUAL AND INDEPENDENT AUDITOR S REPORT FOR THE YEAR ENDED 31 DECEMBER 2013

TEO LT, AB FINANCIAL STATEMENTS, CONSOLIDATED ANNUAL AND INDEPENDENT AUDITOR S REPORT FOR THE YEAR ENDED 31 DECEMBER 2013 TEO LT, AB FINANCIAL STATEMENTS, CONSOLIDATED ANNUAL AND INDEPENDENT AUDITOR S REPORT FOR THE YEAR ENDED 31 DECEMBER 2013 CONTENTS Pages INDEPENDENT AUDITOR S REPORT n3-4 FINANCIAL STATEMENTS n5-50 STATEMENT

More information

ATS AUTOMATION TOOLING SYSTEMS INC. Annual Audited Consolidated Financial Statements

ATS AUTOMATION TOOLING SYSTEMS INC. Annual Audited Consolidated Financial Statements Annual Audited Consolidated Financial Statements For the year ended March 31, 2014 MANAGEMENT S RESPONSIBILITY FOR FINANCIAL REPORTING The preparation and presentation of the Company s consolidated financial

More information

Independent Auditor s Report To the Shareholders and the Board of Directors of PJSC EMAlliance

Independent Auditor s Report To the Shareholders and the Board of Directors of PJSC EMAlliance PJSC EMAlliance Consolidated financial statements prepared in accordance with IFRS for the year ended 2010 together with Independent Auditor s Report Contents Independent Auditor s Report... 3 Statement

More information

TERRA FIRMA CAPITAL CORPORATION

TERRA FIRMA CAPITAL CORPORATION Consolidated Financial Statements TERRA FIRMA CAPITAL CORPORATION KPMG LLP Telephone (416) 777-8500 Bay Adelaide Centre Fax (416) 777-8818 333 Bay Street Suite 4600 Internet www.kpmg.ca Toronto ON M5H

More information

Financial Statements and Independent Auditor s Report. ANELIK BANK Closed Joint Stock Company. 31 December 2014

Financial Statements and Independent Auditor s Report. ANELIK BANK Closed Joint Stock Company. 31 December 2014 Financial Statements and Independent Auditor s Report ANELIK BANK Closed Joint Stock Company 31 December 2014 ANELIK BANK Closed Joint Stock Company Contents Page Independent auditor s report 1 Statement

More information

LEGEND ENTERTAINMENT LIMITED 傳 奇 娛 樂 有 限 公 司 (Incorporated in Hong Kong with limited liability)

LEGEND ENTERTAINMENT LIMITED 傳 奇 娛 樂 有 限 公 司 (Incorporated in Hong Kong with limited liability) LEGEND ENTERTAINMENT LIMITED (Incorporated in Hong Kong with limited liability) REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ST DECEMBER 2011 LEGEND ENTERTAINMENT LIMITED Reports and Contents

More information

Kabel Deutschland Holding GmbH Unterföhring. Consolidated Financial Statements And Management Report March 31, 2008 COURTESY TRANSLATION

Kabel Deutschland Holding GmbH Unterföhring. Consolidated Financial Statements And Management Report March 31, 2008 COURTESY TRANSLATION Kabel Deutschland Holding GmbH Unterföhring Consolidated Financial Statements And Management Report March 31, 2008 COURTESY TRANSLATION This English language report is a courtesy translation of the original

More information

Roche Capital Market Ltd Financial Statements 2012

Roche Capital Market Ltd Financial Statements 2012 R Roche Capital Market Ltd Financial Statements 2012 1 Roche Capital Market Ltd - Financial Statements 2012 Roche Capital Market Ltd, Financial Statements Reference numbers indicate corresponding Notes

More information

Address: 296, Jen Ai Road, Sec. 4, Taipei, Taiwan, R.O.C. Telephone: 886-2-2755-1399

Address: 296, Jen Ai Road, Sec. 4, Taipei, Taiwan, R.O.C. Telephone: 886-2-2755-1399 Consolidated Statements For The Years Ended 2013 and With Independent Auditors Report The reader is advised that these financial statements have been prepared originally in Chinese. These financial statements

More information

Model financial statements for the year ended 30 June 2011

Model financial statements for the year ended 30 June 2011 Model financial statements for the year ended Illustrative example of general purpose financial statements prepared in accordance with the Financial Reporting Act 1993, the Companies Act 1993, applying

More information

2 This Standard shall be applied by all entities that are investors with joint control of, or significant influence over, an investee.

2 This Standard shall be applied by all entities that are investors with joint control of, or significant influence over, an investee. International Accounting Standard 28 Investments in Associates and Joint Ventures Objective 1 The objective of this Standard is to prescribe the accounting for investments in associates and to set out

More information

Intesa Sanpaolo Banka d.d. Bosna i Hercegovina

Intesa Sanpaolo Banka d.d. Bosna i Hercegovina Intesa Sanpaolo Banka d.d. Bosna i Hercegovina Financial Statements as at 2014 Intesa Sanpaolo Banka, d.d. Financial statements as at 2014 Contents Management Board s Report 2 Responsibilities of the Management

More information

accounting policies for the year ended 31 march 2009

accounting policies for the year ended 31 march 2009 The annual financial statements are prepared on the historical cost basis, unless otherwise indicated, in accordance with International Financial Reporting Standards (IFRS), the requirements of the Companies

More information

Non-Banking Credit Organization Closed Joint-Stock Company National Settlement Depository

Non-Banking Credit Organization Closed Joint-Stock Company National Settlement Depository Non-Banking Credit Organization Closed Joint-Stock Company National Settlement Depository Financial Statements for the year ended 31 December 2011 NON-BANKING CREDIT ORGANIZATION CLOSED JOINT-STOCK COMPANY

More information

Consolidated statement of total comprehensive income For the Years Ended 31 December 2013 and 2012 2013 2012 Note w 000 w 000 Revenue 4 71,514 46,007 Cost of sales 5 (31,273) (21,926) Gross profit 40,241

More information

Microfinance Organization Credo LLC Financial statements

Microfinance Organization Credo LLC Financial statements LLC Financial statements Year ended 31 December 2015, together with independent auditor s report Financial statements Contents Independent auditors report Financial statements Statement of financial position...

More information

IFrS. Disclosure checklist. July 2011. kpmg.com/ifrs

IFrS. Disclosure checklist. July 2011. kpmg.com/ifrs IFrS Disclosure checklist July 2011 kpmg.com/ifrs Contents What s new? 1 1. General presentation 2 1.1 Presentation of financial statements 2 1.2 Changes in equity 12 1.3 Statement of cash flows 13 1.4

More information

Condensed Consolidated Statement of Operations and Comprehensive Income (Loss) 3. Condensed Consolidated Balance Sheet 4

Condensed Consolidated Statement of Operations and Comprehensive Income (Loss) 3. Condensed Consolidated Balance Sheet 4 CONSOLIDATED FINANCIAL STATEMENTS For the fiscal year ended March 31, 2014 INDEX Page Condensed Consolidated Statement of Operations and Comprehensive Income (Loss) 3 Condensed Consolidated Balance Sheet

More information

15 September 2011 VOLEX PLC ( Volex or the Group ) Transition to US Dollar reporting Restatement of historical financial information in US Dollars

15 September 2011 VOLEX PLC ( Volex or the Group ) Transition to US Dollar reporting Restatement of historical financial information in US Dollars 15 September VOLEX PLC ( Volex or the Group ) Transition to US Dollar reporting Restatement of historical financial information in US Dollars As communicated in our annual financial statements for the

More information

HONEY BUN (1982) LIMITED Financial Statements 30 September 2015

HONEY BUN (1982) LIMITED Financial Statements 30 September 2015 HONEY BUN (1982) LIMITED Financial Statements. HONEY BUN (1982) LIMITED Index Page Independent Auditors' Report to the Members Financial Statements Statement of profit and loss and other comprehensive

More information

International Accounting Standard 21 The Effects of Changes in Foreign Exchange Rates

International Accounting Standard 21 The Effects of Changes in Foreign Exchange Rates International Accounting Standard 21 The Effects of Changes in Foreign Exchange Rates Objective 1 An entity may carry on foreign activities in two ways. It may have transactions in foreign currencies or

More information

Notice of no Auditor Review of Interim Financial Report 2. Consolidated Interim Statements of Financial Position 3

Notice of no Auditor Review of Interim Financial Report 2. Consolidated Interim Statements of Financial Position 3 Consolidated Interim Financial Statements For the six months ended June 30, 2014 Index Page Notice of no Auditor Review of Interim Financial Report 2 Consolidated Interim Financial Statements Consolidated

More information

Recent years have seen considerable changes to the reporting regime for insurers. The pattern has continued in light of the current economic

Recent years have seen considerable changes to the reporting regime for insurers. The pattern has continued in light of the current economic Illustrative financial statements and selected disclosures for the year ended 31 December 2008 Recent years have seen considerable changes to the reporting regime for insurers. The pattern has continued

More information

Financial Statements. Manitoba Telecom Services Inc.

Financial Statements. Manitoba Telecom Services Inc. 2013 Financial Statements For the years ended December 31, 2013 and 2012 Manitoba Telecom Services Inc. Deloitte LLP 360 Main Street Suite 2300 Winnipeg MB R3C 3Z3 Canada Tel: 204-942-0051 Fax: 204-947-9390

More information

International Accounting Standard 1 Presentation of Financial Statements

International Accounting Standard 1 Presentation of Financial Statements IAS 1 Presentation of Financial Statements International Accounting Standard 1 Presentation of Financial Statements Objective 1 This Standard prescribes the basis for presentation of general purpose financial

More information

Consolidated Financial Statements of

Consolidated Financial Statements of Consolidated Financial Statements of For the years ended, and INDEPENDENT AUDITORS REPORT To the Shareholders of Horizon North Logistics Inc. We have audited the accompanying consolidated financial statements

More information

In addition, Outokumpu has adopted the following amended standards as of January 1, 2009:

In addition, Outokumpu has adopted the following amended standards as of January 1, 2009: 1. Corporate information Outokumpu Oyj is a Finnish public limited liability company organised under the laws of Finland and domiciled in Espoo. The parent company, Outokumpu Oyj, has been listed on the

More information

FUBON LIFE INSURANCE CO., LTD. AND SUBSIDIARIES. CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS JUNE 30, 2013 and 2012

FUBON LIFE INSURANCE CO., LTD. AND SUBSIDIARIES. CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS JUNE 30, 2013 and 2012 FUBON LIFE INSURANCE CO., LTD. AND SUBSIDIARIES CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS JUNE 30, 2013 and 2012 (with Independent Auditors Report Thereon) Address: 14F, No. 108, Sec. 1, Tun

More information

SINOCHEM HONG KONG (GROUP) COMPANY LIMITED. Report of the Directors and Audited Consolidated Financial Statements.

SINOCHEM HONG KONG (GROUP) COMPANY LIMITED. Report of the Directors and Audited Consolidated Financial Statements. Report of the Directors and Audited Consolidated Financial Statements CONTENTS Pages REPORT OF THE DIRECTORS 1-2 INDEPENDENT AUDITORS REPORT 3 AUDITED FINANCIAL STATEMENTS Consolidated statement of comprehensive

More information

Notes to the Consolidated Financial Statements

Notes to the Consolidated Financial Statements 1. General The Company is a public limited company incorporated in Hong Kong and its shares are listed on The Stock Exchange of Hong Kong Limited (the Stock Exchange ). The address of the registered office

More information

Company Registration No. 199002791D

Company Registration No. 199002791D Company Registration No. 199002791D LIBERTY INSURANCE PTE LTD Directors Report and Audited Financial Statements 31 December 2014 ANNUAL REPORT Contents Page Directors report 1 Statement by directors 3

More information

LYDIAN INTERNATIONAL LIMITED CONSOLIDATED FINANCIAL STATEMENTS December 31, 2008

LYDIAN INTERNATIONAL LIMITED CONSOLIDATED FINANCIAL STATEMENTS December 31, 2008 LYDIAN INTERNATIONAL LIMITED CONSOLIDATED FINANCIAL STATEMENTS December 31, 2008 INDEPENDENT AUDITORS REPORT To the Shareholders of Report on the Financial Statements We have audited the accompanying consolidated

More information

Notes on the parent company financial statements

Notes on the parent company financial statements 316 Financial statements Prudential plc Annual Report 2012 Notes on the parent company financial statements 1 Nature of operations Prudential plc (the Company) is a parent holding company. The Company

More information

Notes to the Consolidated Financial Statements 88. Auditors Report on the Consolidated. of Sulzer Ltd 146. Five-Year Summaries 147

Notes to the Consolidated Financial Statements 88. Auditors Report on the Consolidated. of Sulzer Ltd 146. Five-Year Summaries 147 81 Consolidated Financial Statements Notes to the Consolidated Financial Statements 88 Consolidated balance sheet 83 Consolidated income statement 84 Consolidated statement of comprehensive income 85 Consolidated

More information

Acerinox, S.A. and Subsidiaries. Consolidated Annual Accounts 31 December 2014. Consolidated Directors' Report 2014. (With Auditors Report Thereon)

Acerinox, S.A. and Subsidiaries. Consolidated Annual Accounts 31 December 2014. Consolidated Directors' Report 2014. (With Auditors Report Thereon) Acerinox, S.A. and Subsidiaries Consolidated Annual Accounts 31 December 2014 Consolidated Directors' Report 2014 (With Auditors Report Thereon) (Free translation from the original in Spanish. In the event

More information

IFRS for SMEs IFRS Swiss GAAP FER

IFRS for SMEs IFRS Swiss GAAP FER IFRS for SMEs IFRS Swiss GAAP FER Similarities and differences 2009 Edition IFRS for SMEs IFRS Swiss GAAP FER Similarities and differences 2009 Edition This PricewaterhouseCoopers publication is for those

More information